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<br /> DEED DF TRU�T
<br /> Loan 'No: 'i�'1�92a�7 �C�nfi�nu�d} Page 4
<br /> policies ❑r cert��icates vf insurance in�orm sat�s�fac�ory�❑ Lender, including s�ipulations that c��erages will not be
<br /> cancelled o�- diminished without a� Ieast ten {�0� days prior written notice -�a Lender. Each insurance po(icy also
<br /> sha�i inGlude an endorsemenfi pro�iding�hat ca�erage in�a�or❑f Lender will not be fmpaired in any way by any act,
<br /> omission ❑r defaul� ❑�Trus�or❑r any vther persvn. Should �he Real Property 1ae locafied in an area designated by
<br /> the Administra�or of�he Federal Em�rgency Management Agency as a special �I�od haza�-d area,T�ustar agrees tv
<br /> ob�a�n and main�kain Federal Flood lnsurance, if a�ailahle, wi�hin 45 days after not�ce is gi�en by L�nder tha�the
<br /> Property is lvcated in a special�[ood hazard area, ��r the full unpaid principal balance o�the laan and any pria�-liens
<br /> on�he property securing the loan, up�v the maximum palicy��mifis set under the National Flood lnsurance Program,
<br /> vr as atherwise requir�d hy Lender, and t❑ maintain such insurance fvr�he term❑f�he laan.
<br /> Application af Pro�eeds. Trustar shall promptly notify Lender of any loss vr damage ta�he Proper�y. Lender may
<br /> make praof of i�ss if Trustar fai�s to dv sa wi�hin fifteen ���} days o� �he casual�y. Whether or not Lender's
<br /> security is impaired, Lender may, at Lender's ele�tion, receiW� and retain th� proce�ds a�any insurance and apply
<br />� �he proceeds fio th� reduction of�he Indebtedness, payment a� any Eien af�ec�3ng fihe Property, or the restarat�on
<br /> and repair ❑�the Proper�y. I� Lender elects �o apply�he pr�ceeds �❑ res�orativn and repair, Trustor shall repair ❑r
<br /> replace �he damaged ❑r des�rvyed Improvements in a manner sa�isfac�ory tv Lender. Lender sha�f, upon
<br />� safiisfac�ory praof ❑�f such expenditure, pay vr reimburse Trus�ar ��-om fihe proceeds far �he reasonahle cos� ❑-�
<br /> repair or res�oratian i# Trustvr is not in defauit under this Deed ❑-� Trus�. Any praceeds which have no� heen
<br />: disbursed within 180 days after�heir receipt and which Lender has no� commifi�ed fio �he repair or restora�ion of
<br />. th� Proper�y shall be used first to �ay any amount owing�a Lender under this �eed vf Trus�, then to pay a�crued
<br /> interest, and the remainder, if any, shall be applied tv �he principal 1aa�anc� ❑f the lndebtedness. lf Lender holds
<br />� any praceeds after paymenfi in fu�f of the �ndebtedness, such proceeds shall be paid tv Trus�or as Trustor's
<br /> interes�s may appear.
<br /> Trustvr's Repvrt❑n lnsurance. Upon request a� Lender, hvwe�er no� more fihan once a year, Trustor shall �urnish
<br /> �ko Lender a �-epor� on each existing pvlicy o� insurance showing: {1} �he name o� the insurer; ��} the risks
<br /> insured; �3} fihe amaunt of �he policy; 44} �he praperty insured, the then current replacement �alue ot su�h
<br /> property, and �he manner❑�de�ermining that�alue; and {5� the expiration date ❑f the policy. Trustor shalE, upan
<br /> request❑�F Lender, ha�e an 3ndependent appraiser satis�a�tory ta Lender de�erm�ne the Gash�alue repla�emenfi cvst
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<br /> ❑f the Property.
<br /> LENDER'S E?CPENDITURES. I�any acfiion or praceeding is commen�ed tha�would materially affect Lender's Fnterest in
<br />' the Property ❑r if Trustor fai�s�k❑ camply with any pro�isivn of�his Deed ❑f Trus� or any Re�ated ❑ocumenfis, inc�uding
<br /> bu� not.limi�ed �ko Trus�or's failure t❑ disGharge or pay when due any amounts Trustor is required �o discharge ar pay
<br /> under�his ❑eed o�Trust or any ReEated ❑ocuments, Lender on Trusfior's behalf may {bu�sha�[ no�be vhlEgated to} take
<br />� any action that Lender deems apprvpr�ate. including hu� not limited �o discharging ar paying a13 taxes, �iens, security
<br /> int�r�sfis, encumbrances and other cEaims, at any time le�ied or placed on�he Praperty and paying a11 cos�s�or insuring,
<br /> maintaining and preser�ing the Praperty. All such �xpendi�u�-es incurred or paid.hy Lender for such purp�ses will then
<br /> bear interest at the rate �harged under the Nvte from the date incurred or paid �y Lender to �he date o�f repayment by
<br /> Trustor. All such expenses will became a par� ❑f the Indeb�edness and, a� Lender's aption, wii� {A} be payable vn
<br /> demand; �B} he added fi❑ the l�alance o� th� Nate and be appar�ioned among and be payable wi�h any instal�men�
<br /> payments to be�ame due during either {'1� �he term of any applicable insuranc� pali�y; or {Z} �he remaining te�-m af
<br /> the N�te; or {C� he treafied as a 1�a1lavn payment which wi11 be due and payable a�the N��e's ma�kuri�y. The Deed af
<br />� Trusfi aiso will secure payment of these amaunts. Such right shaEi be in addifiivn �ta all other rights and remedEes to
<br />, which Lender may he en�i�led upon De�aul�.
<br /> WARRANTY; DEFENSE DF T1TLE. The�o[Iowing pro�isions rela�ing to ❑wnership o�the Praper�y are a part af this Deed
<br />� af Trust:
<br />� Tj�tEe. Trustor vvarrants that; �a} Trustor hofds good and marketab[e tit�e ❑�F recvrd to the Prvpe�ty in fee simple,
<br /> -�re� and clear o� all liens and encumbrances other �han those set�vr�h in the Real Praperty description �r in any
<br /> ti��e insurance policy, title repvrt, or final fiitle �pinivn �ssued in -�a�or of, and accepted by, Lende�- in cannectivn
<br /> with�his Deed ❑f Trust, and �h}Trustor has the full right, power, and authari�y ta execu�e and deli�er this D�ed of
<br />, Trust�o Lender.
<br />� Defense af Title. Subject fiv �he ex�ep�ion in the paragraph ahove, Trustor warrants and wi�! fore�er defend the
<br /> titie t❑the Proper-�y against the lawful claims of all persons. In the e�en� any acfiivn vr prv�eeding is commenced
<br /> �hat ques�ions Trus�vr's�i�le ar�he in�erest❑f Trus�ee ar Lender under�his Deed of Trust, Trustar shall d�fend the
<br /> action�at Trustor's �xpens�. Trustor may be the nvminai party in such �roceeding, laut Lender shall be entit�ed tv
<br /> parti�ipate in fihe proceeding and to be represen�ed in �he proceeding by counsef ❑f Lender's �wn choice, and
<br /> Trust�r wi�I deli�er, or cause to be delivered, fi❑ Lender such instr-um�nts as Lender may request from time�o time
<br /> ta permi�such part�cipativn.
<br /> Compliance 1Ni#h Laws. Trus�ar warrants fihat �the Proper�y and Trustor's use of the Property cvmplies with a�l
<br /> exEsting appiicable laws, ardinan�es, and regula�ions of gv�ernmen�al authori�ies.
<br /> Survi►ral af Representa#ions and V1larran�ies. A�I represen�a�ions, warranties, and agreements made by Trus�vr in
<br /> this Deed of Trus�shall sur�i�e the �xecu�ion and deli�ery❑f this Deed o�Trus�, shall be can�inuing in natu�e, and
<br /> sha[t remain in full force and effect unti!such�ime as Borrower's �ndebfiedness shall be paid in full.
<br /> C�NDEMNATI�N. The�ollowing pr��is��ns relating�o cvndemnation p�-ac��dings are a par�❑f this Deed o�Trust:
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